With May’s disappointing jobs numbers and stubborn unemployment rate, its absolutely critical that Congress continue moving forward on pro-growth bills that support jobs and enhance competitiveness for manufacturers in the U.S. There are numerous legislative proposals on how to do just that, and among them is a package strongly supported by the NAM – the Miscellaneous Tariff Bill (MTB).
The MTB is a package of bills that reduce import duties on manufacturing inputs that aren’t available in the U.S. The vast majority of these inputs are used by manufacturers in their manufacturing process. Since these bills only apply to tariffs on products not produced domestically, the tariffs don’t protect any domestic manufacturers.
In fact, they hurt the manufacturers who rely on these inputs in order to make their goods. The MTB is about removing these costly import duties on products that are needed in the manufacturing process here in the U.S. Keeping costs low for our companies enhances their competitiveness in the global market.
With our economy still facing challenges we need Congress to work towards passage of the MTB by the end of this year to give manufacturers in the U.S. the low costs and certainty they need to stay competitive in the global market.
Jessica Lemos is director of international trade policy, National Association of Manufacturers.